Princess Private Equity Share Discussion Threads

[cwa1] 12/8/2021 13:59

12 August 2021

News Release

Guernsey, 12 August 2021

Partners Group to sell Brazil's leading fresh food retailer Hortifruti Natural da Terra to Americanas

Partners Group, the Investment Manager of Princess Private Equity Holding Limited ("Princess"), has agreed, on behalf of its clients, to sell Hortifruti Natural da Terra ("Hortifruti"), Brazil's largest fresh food retail chain, to Brazilian conglomerate Americanas S.A.. The transaction values Hortifruti at an enterprise value of BRL 2.4 billion.

The transaction values Princess' stake in Hortifruti at approximately BRL 67 million. This compares to a carrying value of BRL 60.6 million (EUR 10.3 million) at 30 June 2021.

[bluemango] 09/8/2021 15:17

All time record high if it closes at this level.

Wonderful long term chart and great yield.

[cwa1] 04/8/2021 13:51

And perky again today :-)

[cwa1] 03/8/2021 13:31

Nice to see PEY creeping back up again and in the 13's. Well deserved imo and hopefully more to come

[skyship] 28/7/2021 08:59

Yes indeed, yet another PE trust revealing great NAV results.

On my PE spreadsheet I have picked out four to provide a sector average discount: HVPE/PEY/PIN & SLPE; then six by adding ICGT & NBPE.

This helps me to flag up anomalies.

A few weeks ago, perhaps just 4-5weeks, the average of the first 4 showed a mere 16% discount; whereas NBPE traded at a 23% discount - so bought heavily there.

Now, thanks to a weakening in the share prices whilst the NAV returns were bounding higher; the average discount = 22.7%.

A look at the charts, especially ICGT & PIN, suggests to me that a breakout North from a 4-5month period of consolidation, is about to happen.

[cwa1] 28/7/2021 08:16

PEY increases NAV by 4.8%...in June :-)



Guernsey, 28 July 2021



NAV increases by 4.8% in June



· Princess Private Equity Holding Limited's (Princess or the Company) net asset value increased by 4.8% to EUR 15.24 per share

· Portfolio developments (+4.8%) and currency movements (+0.1%) were positive

· Princess invested EUR 6.4 million and received distributions of EUR 34.2 million



In June, Princess' NAV increased by 4.8%, bring performance for the first half-year to +16.7%. The positive performance was driven by a number of portfolio companies. Amongst the largest value drivers was Foncia, a property management and real estate services provider in France. The company continues to strengthen its position in the French market via M&A, with close to 50 acquisitions closed in FY2021. Foncia has also hired new country heads to lead the company's expansion in the German and Belgian markets. SPi Global, a content and data solutions provider, was positively revalued. Performance has been strong across all divisions: the edtech solutions business unit has achieved strong growth on the back of robust e-learning tailwinds continuing in 2021; the data solutions business has seen robust sales momentum with several new account wins; and research content services continues to outperform budget. SPi has been rebranded to 'Straive', which reflects the company's transformation from a content services provider to a content, data, and edtech solutions player.

...continues

[bluemango] 08/7/2021 18:45

Yes, a decent amount - just shy of 28 grands' worth.

She's been a non-exec since 2018.

[cwa1] 08/7/2021 16:22

Someone thinks they are still decent value...

[skyship] 25/6/2021 08:31

They should have mentioned XD Euro 0.335 in May...

[cwa1] 25/6/2021 07:45

Serene but stately performance:-

News Release

Guernsey, 25 June 2021

NAV increases by 1.2% in May

-- Princess Private Equity Holding Limited's (Princess or the Company) net asset value increased by 1.2% to EUR 14.54 per share

-- Portfolio developments (+1.6%) were positive while currency movements were negative (-0.2%)
-- Princess received distributions of EUR 12.2 million
In May, Princess' NAV increased by 1.2%. The positive performance was driven by a number of portfolio companies, with the largest contribution from SRS Distribution (SRS), a US distributor of roofing products. The value of SRS has been written up following a period of strong financial performance. SRS acquired Arrowhead Building Supply, a distributor of residential and commercial roofing, siding, and other related products in May. Arrowhead Building Supply is one of the largest independent roofing distributors in the Midwest and is expected to make an excellent addition to the footprint SRS has in the region.

During the month Princess received distributions of EUR 12.2 million, of which EUR 7.7 million stemmed from the sale of BarBri, a US-based provider of bar exam preparation services. Following strategic product investments and a number of acquisitions in recent years, Barbri now provides a comprehensive product suite addressing the complete legal education lifecycle.

Further, Princess received a distribution of EUR 3.6 million from United States Infrastructure Corporation (USIC), a US-based provider of underground utility locating services. Partners Group continues to work closely with USIC to expand its utility solutions offering. The company is targeting the launch of select services into new markets over the coming year, while continuing with its acquisition strategy.

The remaining balance was received predominantly from Princess' mature legacy fund portfolio.

Further information is available in the monthly report, which can be accessed via:

[cwa1] 28/5/2021 07:40

duplicate removed

[cwa1] 28/5/2021 07:40

Steady as she goes:-

Guernsey, 28 May 2021

NAV increases by 1.5% in April

-- Princess Private Equity Holding Limited's (Princess or the Company) net asset value increased by 1.5% to EUR 14.70 per share

-- Portfolio developments (+1.7%) were positive while currency movements were flat
-- Princess invested EUR 11.9 million during the month and received distributions of EUR 15.8 million

Princess invested a total of EUR 11.9 million during April, of which EUR 9.5 million was invested in Wedgewood Pharmacy, a leading US animal-health compounding pharmacy business. Compounded medications are created and prepared by specialist pharmacists and pharmacy technicians when there is no commercially available alternative. Wedgewood holds over 66'000 relationships with veterinarians and directly serves more than 360'000 pet owners annually. Following the investment, Partners Group will work closely with Wedgewood's management team to implement new strategic initiatives that support ongoing organic growth. Key areas of focus will be investing in the Company's sales and marketing functions; enhancing technology to drive digital engagement with veterinarians and pet owners through multiple channels; and continuing its veterinary footprint expansion through corporate group partnerships and new customer acquisitions, as well as opportunistic M&A.

EUR 2.3 million was deployed in a follow-on investment in eResearch Technology (ERT), a provider of integrated online software application services that enables the pharmaceutical, biotechnology and medical device industries to collect, interpret and distribute cardiac safety and clinical data more efficiently during clinical trials. The capital was used to fund the company's merger with US-based BioClinica, a provider of clinical trial imaging technology solutions to top pharmaceutical, biotechnology and medical device organizations.

During the month Princess received distributions of EUR 15.8 million, of which EUR 13.2 million stemmed from a confidential private debt investment. The remaining balance of EUR 2.6 million was received predominantly from Princess' mature legacy fund portfolio.

[stemis] 25/5/2021 17:05

Yes, strange dip bearing in mind the newsflow

[cwa1] 25/5/2021 16:59

Decent couple of days share price wise

[cwa1] 24/5/2021 09:00

Nice

Guernsey, 24 May 2021



Princess Private Equity to partially realize its investment in International School Partnership (ISP)



Partners Group, the Investment Manager of Princess Private Equity Holding Limited ("Princess"), is expanding the shareholder base of International Schools Partnership ("ISP"), a leading international group of K-12 schools. Incoming shareholder OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, has agreed to acquire a 25% stake in ISP. Partners Group will continue to hold a majority stake in ISP on behalf of its clients. The transaction values ISP at an enterprise value of EUR 1.9 billion.



The transaction values Princess' stake in ISP at approximately EUR 150 million. This compares to a carrying value of EUR 139 million at 31 March 2021. ISP was Princess' largest portfolio company at 31 March 2021, representing 13.9% of net assets. As part of the transaction Princess will reduce its exposure to ISP but will retain an investment of approximately EUR 20 million to continue to participate in the future growth of the business.

[cwa1] 19/5/2021 07:21

Presentation...

[whilstev] 17/5/2021 13:14

Discount of approx. 16%, dividend yield of 5.5% and likely to increase next year , these seem like great value at the moment.

[cwa1] 15/5/2021 17:20

Worth mentioning it went ex-dividend on Thursday to account for a small proportion of that

[skyship] 15/5/2021 15:16

A quick spike to 13.20; now back down to 11.80 - Currency headwind perhaps.

[whilstev] 29/4/2021 09:42

Wow NAV up 7.3% to 14.49 Euros no wonder the share price has hit new highs recently.

[skyship] 18/4/2021 12:27

See the PE thread for a good FT article on the sector...

[bluemango] 15/4/2021 21:51

Yes, brilliant rise of 15.5% on annual dividend.

Very welcome increase.

[whilstev] 15/4/2021 10:01

Excellent increase in div to 33.5 Euro cents so full year div should be 67 cents.

[bluemango] 01/4/2021 12:05

52 week high